Insight
Opportunity revenue is the potential revenue a host is missing out on compared to their competitors. It's an important metric to track, especially when the overall market might be down.
Revenue Management Strategies (Ep592)
Summary
This interview with a revenue management expert discusses strategies for optimizing revenue in short-term rentals, including the importance of competitive analysis and creating effective CompSets. Hosts should focus on understanding opportunity revenue and utilizing tools to track and compare their performance against competitors.
Key takeaway